Raymond James Reiterates Outperform Rating for Boralex (TSE:BLX)

Boralex (TSE:BLX)‘s stock had its “outperform” rating reissued by research analysts at Raymond James in a note issued to investors on Thursday, June 20th, BayStreet.CA reports. They currently have a C$25.00 price objective on the stock. Raymond James’ price objective suggests a potential upside of 25.00% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Barkerville Gold Mines in a research note on Tuesday, March 19th. CIBC dropped their price objective on shares of Peyto Exploration & Development from C$10.00 to C$6.00 in a research note on Wednesday, June 19th. TD Securities lowered shares of Tricon Capital Group from an “action list buy” rating to a “buy” rating and dropped their price target for the stock from C$14.50 to C$13.50 in a research note on Thursday, May 9th. Finally, BMO Capital Markets restated a “market perform” rating and set a C$17.00 price target on shares of Wajax in a research note on Thursday, June 20th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of C$23.29.

Shares of BLX stock traded up C$0.02 during trading hours on Thursday, reaching C$20.00. 261,900 shares of the stock traded hands, compared to its average volume of 231,507. Boralex has a 1-year low of C$15.96 and a 1-year high of C$20.63. The firm has a fifty day moving average of C$19.40. The company has a debt-to-equity ratio of 415.22, a current ratio of 0.74 and a quick ratio of 0.63. The firm has a market capitalization of $1.78 billion and a price-to-earnings ratio of -55.40.

Boralex (TSE:BLX) last released its quarterly earnings results on Wednesday, May 8th. The company reported C$0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.30 by C($0.02). The firm had revenue of C$172.00 million for the quarter, compared to analyst estimates of C$173.00 million. As a group, analysts forecast that Boralex will post 0.32 earnings per share for the current year.

About Boralex

Boralex Inc, together with its subsidiaries, develops, constructs, and operates renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2018, the company had interests in 81 wind power stations with an installed capacity of 1,723 megawatts (MW); 15 hydroelectric power stations with a capacity of 156 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power stations with an installed capacity of 16 MW.

Further Reading: Are sell-side analysts objective?

Analyst Recommendations for Boralex (TSE:BLX)

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